House price growth slowed to a 15-month low of 9.8% in the year to October from 10.7% in September as the median house price of homes purchased in the previous 12 months hit €300,000, the latest figures from the Central Statistics Office (CSO) show.
Residential property prices rose 8.3% year-on-year in Dublin and 11% outside of Dublin. In the capital, house prices rose 8.5% and apartments prices 7.6%, while excluding Dublin, house prices were up 11.3% and apartment prices 7.5%.
In the west (Galway, Mayo and Roscommon), annual residential property price inflation was measured at 16.3%, while at the other end of the scale, the south-west (Cork and Kerry) saw growth of 9.2%.
The most expensive area of the country in which to buy a home over the 12 months to October was Dún Laoghaire-Rathdown with a median price of €620,000, and within that area, Blackrock was the most expensive Eircode at €732,500.
The cheapest area of the country was Longford at €148,000, and the least expensive Eircode was Ballyhaunis, Co Mayo at €124,500.
In Association with
The national residential property price index is now 2.9% higher than the previous peak during the boom in April 2007, although prices in Dublin are 5.7% off their February 2007 peak, and the prices in the rest of Ireland are up 1.8% on May 2007.
Property prices have increased 129.5% since early 2013, and in Dublin prices are now 133.6% higher than their February 2012 low. In the rest of Ireland, house prices have risen 134.2% since May 2013.
The average price of new dwellings rose 9.1% year-on-year in the third quarter, up from 7.9% in Q2 and 3.2% from Q3 2021, while the price of existing properties is 12.7% higher year-on-year, compared to growth of 16.2% in Q2 and 13% in Q3 2021.
Overall, prices of new dwellings have risen by 93.3% from their trough in the middle of 2013. Prices of existing dwellings are now 131.9% higher than at their trough in 2012.
A total of 4,296 residential property purchases worth €1.6bn were filed with the Revenue in October, down from 4,335 (-0.9%) the previous October and 4,583 (-6.3%) from September.
Existing dwellings accounted for 3,500 (81.5%) of the dwelling purchases filed in October, a decrease of 5.1% compared with October 2021. The balance of 796 (18.5%) were new dwellings, an increase of 22.8% compared with October 2021.
Of the 49,635 dwelling purchases in the year to October, 16,409 (33.1%) were made by first-time buyers, while 26,574 (53.5%) were made by former owner-occupiers, and 6,652 (13.4%) were acquired by non-occupiers.
Revenue data shows that there were 1,518 first-time buyer purchases in October 2022, an increase of 12.4% on the 1,350 recorded in October 2021. These purchases were made up of 461 new dwellings and 1,057 existing dwellings.
